The Federal Income Tax Policy : an analysis of the 1995 reformation proposals : an honors thesis (HONRS 499)

Abstract

This paper outlines the findings of a study of the current proposals to change the Federal Income Tax Policy. The current system has been proven to be ineffective. With the 1996 election year approaching, this topic is of great importance. Each presidential candidate will be pressed about his or her views on what changes need to be made to the tax policy.It is important to understand the issues the candidate supports in order to make an informed vote. The purpose of this paper is to outline the main aspects, advantages, and disadvantages of each proposal.The issues behind determination of a good tax are presented. Then, the Flat Tax, VAT, USA Tax and NST are studied in detail. The methods studied provide a range of income and consumption based methods.